The «Fintech Research Platform» will help investors and financial institutions connect with start-ups in the industry that they can partner with or invest in.
The Monetary Authority of Singapore (MAS) has developed a prototype for an industry-wide fintech research platform in collaboration with accounting firm Deloitte and data and analytics provider S&P Global Market Intelligence to facilitate investments in the sector, the regulator announced in a statement on Tuesday.
The platform, which will continue to be refined and built up, is designed with several objectives in mind: to increase transparency, boost investor confidence, and accelerate decision making, the statement said.
Facilitating Investment
The partners hopes to address the information gap in the sector: many investors and financial institutions currently do not have access to reliable and up-to-date company information relating to fintech start-ups and have to rely on informal networks to source investment opportunities.
«We believe that the deployment of capital in start-ups, particularly those offering business-to-business solutions, can be vastly improved by enhancing transparency and increasing the confidence in data on early-stage companies,» Sopnendu Mohanty, MAS chief fintech officer, said in the statement.
